New York Banks Sterling and Astoria to Merge

The New York metropolitan area’s banking sector is about to get a bit smaller, as two of the region’s banking groups are set to fuse together. Sterling Bancorp (NYSE: STL) and Astoria Financial (NYSE: AF) announced in a joint press release that the former will acquire and absorb the latter in a stock-for-stock transaction valued at roughly $2.2 billion. …read more